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How to Make a Valid Will in 5 Minutes

Published 01 Oct 2020

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By Fi Life Team
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How to Make a Valid Will in 5 Minutes

 

You’re young, your life is ahead of you, why make a will right now? Well, death doesn’t have a habit of giving you a heads up. So, like life insurance, it’s best to be prepared.

Why Make a Will?
Well, for a start, you want to avoid the following situations:
- Your family and relatives fighting over your money and assets
- Your assets in limbo for a long time with your family put through a lengthy and expensive legal process to retrieve them
-Your assets might get passed to people you did not intend to benefit, maybe even at the expense of your loved ones

The Pros of Making a Will
- You get to decide who gets what
- You can choose a trusted executor
- You minimise the legal process for your beneficiaries
- You can appoint a legal guardian for your young children

If you’re Muslim
Your estate will be governed by the rules of Faraid. However, you are allowed to write a wasiat for one third of your assets in favour of non-Faraid beneficiaries:
- You can provide for non-faraid beneficiaries like your adopted children, or a charity
- You can combine it with a Hibah to plan your inheritance
- You can choose a trusted executor to manage your wasiat
- You can simplify the process of dividing the assets and avoid lengthy legal processes

Understanding how Faraid works allows you to plan your inheritance better, to make provisions where needed for your loved ones and family.

Is it Hard to Make a Will?
It used to be. In the old days, you went to a lawyer to make a will, at a cost of a few thousand ringgit. But not anymore. You can now make a valid will or wasiat in less than 5 minutes!

How to make a valid will or wasiat in 5 minutes?
We have partnered with Createwills so that you can create a will or wasiat within 5 minutes, and with a special promotion of only RM 100 (original price at RM 290):
- Just go to Createwills and start filling in your details
- Choose who will get your assets and in what proportion
- For Muslims, faraid calculations are already embedded, so all you have to do is identify your wasiat beneficiaries and the proportions they are entitled to
- Choose your trusted executors to manage your will, and the legal guardians for your children - Use the promo code if “FIWILLS” before checking out
- Print and sign the will in front of two witnesses, and you’re done!

Like the simplicity of life insurance with Fi Life, here’s will-writing made simple!